from auction alternatives in recent years, despite significantly lower costs in both direct fees and initial underpricing … when using the auction mechanism. This paper shows that in the French market, where the frequency of book-building and …

We analyze the welfare consequences of an increase in the commissions charged by the organizer of an auction … of tax incidence in consumer economics. We argue, however, that auction markets deserve a separate treatment. Indeed we …

In a common value auction in which the information partitions of the bidders are connected, all rings are core …

-double auction with affiliated private values. This is supposedly the simplest bilateral trading mechanism that allows for dependence …

We study auction design when parties cannot commit themselves to the mechanism. The seller may change the rules of the … commit to the English auction. Typically the converse also holds, the English auction is the only stable auction mechanism. …

would bid in a first-price auction. 3) Buyers' expected utilities in an all-pay auction are lower than in a first …-price auction. 4) The seller's expected payoff in an all-pay auction may be either higher or lower than in the risk neutral case. 5 …) The seller's expected payoff in an all-pay auction may be either higher or lower than in a first-price auction. …